Payment gateways in Nigeria
We compared 5 gateways on what a payment costs in Nigeria, one kind of payment at a time. Every number says where it came from and when it was checked.
Our read · Payment of ₦10,000 at the standard rate
Lowest fee for a payment of ₦10,000 at the standard rate: Squad
Squad charges ₦120 on ₦10,000 in Nigeria, the lowest of the 5 gateways with a verified fee for it (checked 22 Oct 2026). Fee is one part of the cost: settlement time, limits and licences are shown beside it, and none of them reorders the list.
- Lowest for an international card payment of ₦10,000: Monnify (₦400)
Thimania is free to use. Rankings follow the fees we checked, never who pays us. Any link to a provider is on its profile, where we say whether we earn from it.
Gateways in Nigeria for a payment of ₦10,000 at the standard rate
Ranked by the fee on ₦10,000, cheapest first.
| Gateway | Fee on ₦10,000 lower is better | Settlement time | Checked |
|---|---|---|---|
| 1. Squad | ₦120 Best | 1 day | 22 Oct 2026 Provider fee page |
| 2. Interswitch | ₦150 | 1 day | 25 Oct 2026 Quickteller Business pricing |
| 2. Monnify | ₦150 | Not yet verified | 22 Oct 2026 Provider fee page |
| 4. Flutterwave | ₦200 | 1 day | 22 Oct 2026 Provider fee page |
| 5. Paystack | ₦250 | 1 day | 22 Oct 2026 Provider fee page |
Not ranked for this payment, because we have no verified fee for it: Kora, Mono.
Gateways in Nigeria for an international card payment of ₦10,000
Ranked by the fee on ₦10,000, cheapest first.
| Gateway | Fee on ₦10,000 lower is better | Settlement time | Checked |
|---|---|---|---|
| 1. Monnify | ₦400 Best | Not yet verified | 22 Oct 2026 Provider fee page |
| 2. Flutterwave | ₦480 | Not yet verified | 22 Oct 2026 Provider fee page |
| 3. Paystack | ₦490 | 1 day | 22 Oct 2026 Provider fee page |
Not ranked for this payment, because we have no verified fee for it: Interswitch, Kora, Mono, Squad.
How we compared them
A fair comparison needs the same payment, so each gateway is priced for exactly the kind of payment and amount above, from the rate it publishes for it. The fee is calculated from that rate, including any fixed fee, minimum or cap. A gateway with no verified rate for a payment is listed under the table, not ranked.
What the fee leaves out: VAT and other taxes, setup and monthly fees, payout charges and rates negotiated for large merchants. Check those on the gateway's own page before you sign up. Each profile shows what we found, and the date.